According to the new World Bank (WB) report, the economy of Armenia is the most monopolized from among the ex-USSR and Eastern European Countries, informs RFE/RL Armenian service.    

The aforesaid is noted in the report that was presented Wednesday at the WB Office in Yerevan.

As indicated by this report, about 20 percent of Armenia’s economy is monopolized, and together with the oligopolies, the cartels control virtually two-thirds of the country’s economy. 

“A limited number of companies are dominant in the major domains [of economy], [and] the monopolies and the oligopolies have a high share in the total economy,” stated WB senior economist Gohar Gyulumyan, as she presented the report.   

According to the WB, the unemployment rate in Armenia is “far above the regional average.” As per the World Bank, 18 percent of Armenia’s workforce is unemployed at present.    

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